Money flows into aid – fat profits at Salzburg AG are over

State, city and energy AG refrain from large rain of money. Profits will no longer be plentiful in the next few years.

Salzburg AG was only able to announce a record profit of 60 million euros for 2021 at the end of March. Half of this went to the owners of the state, city and Oberösterreichische Energie AG. The record profits, like the rain of money for the owners, will be over for the time being. “We expect that this year and in 2023 we will no longer have the results that we had last time,” announced Salzburg AG boss Leonhard Schitter. The owners want to forgo the annual profit distribution for the time being. Waiver of money enables the construction of power plants For 2023, only the statutory minimum share of 35 percent of the profit will be distributed, announces the governor and head of the supervisory board Wilfried Haslauer. “We are deliberately holding back in order to keep the electricity price bearable and to enable Salzburg AG to invest,” explains the state manager. For example, the relief for small and medium-sized companies with 100 free electricity days, which is particularly important to Haslauer, is fully financed by Salzburg AG. The energy provider is also investing heavily in the expansion of renewables. Two new hydroelectric power plants (Stegenwald and Sulzau) are to be built for 80 million euros.
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